The Pakistani rupee exchange rate faced a slight fluctuation this week in the open market. As per the latest update on 12 May 2023, the currency rates in Pakistan’s open market are as follows:
| CURRENCY | SYMBOL | BUYING | SELLING |
|---|---|---|---|
| US Dollar | USD | 302 | 305 |
| Euro | EUR | 318 | 321 |
| British Pound | GBP | 364 | 367 |
| UAE Dirham | AED | 80 | 80.9 |
| Saudi Riyal | SAR | 78 | 78.8 |
| Kuwaiti Dinar | KWD | 944.81 | 953.81 |
| Canadian Dollar | CAD | 214 | 216.2 |
| Australian Dollar | AUD | 192.5 | 194.5 |
| Omani Riyal | OMR | 752.33 | 760.33 |
| Japanese Yen | JPY | 2.2 | 2.25 |
| Malaysian Ringgit | MYR | 64.94 | 65.54 |
| Qatari Riyal | QAR | 79.54 | 80.24 |
| Bahrain Dinar | BHD | 769.97 | 777.97 |
| Thai Bhat | THB | 8.6 | 8.75 |
| Chinese Yuan | CNY | 41.76 | 42.16 |
| Hong Kong Dollar | HKD | 36.97 | 37.37 |
| Danish Krone | DKK | 42.63 | 43.03 |
| New Zealand Dollar | NZD | 183.93 | 185.93 |
| Singapore Dollar | SGD | 215 | 217 |
| Norwegians Krone | NOK | 27.55 | 27.85 |
| Swedish Krona | SEK | 28.29 | 28.59 |
| Swiss Franc | CHF | 324.91 | 327.41 |
| Indian Rupee | INR | 3.53 | 3.88 |
Buying and Selling Rates in Pakistan Open Market
If you’re planning to buy or sell foreign currency in Pakistan, it’s crucial to stay updated with the latest currency rates. Here are the buying rates for some of the major currencies in the open market as of 12 May 2023:
- US Dollar to PKR open market is 302
- Euro to PKR open market is 318
- British Pound to PKR open market is 364
- UAE Dirham to PKR open market is 80
It’s worth noting that open market rates provided by Pakistani currency exchange traders are used to compute the USD/PKR exchange rate. However, bank exchange rates for the US dollar are slightly lower than those available on the open market or at currency exchanges.
Factors Affecting Currency Rates in Pakistan
There are several factors that can impact the currency rates in Pakistan, including the country’s economic conditions, political stability, and global market trends. For instance, if Pakistan experiences inflation, it can lead to a decrease in the value of the rupee and an increase in the foreign currency exchange rates.
Moreover, the ongoing political situation in the country can also have an impact on the currency rates. Therefore, it’s important to stay updated with the latest news and developments in the country to make informed decisions while dealing with foreign currencies.
